Medical Nutrition Market - Industry Growth Stratergies
Albany, NY -- (SBWIRE) -- 04/19/2019 -- Key Dynamics Influencing Growth of the Medical Nutrition Market
Chronic obstructive pulmonary disease (COPD) is the one of a major causes of disability. As per the World Health Organization (WHO), COPD is considered to be one of the top causes of deaths for decades, and is expected to be increasing. It has been estimated to be responsible for the deaths of 3 Mn patients in 2015, globally. Malnutrition is considered to be one of the common problems in COPD patients who requires medical nutrition support for survival. Increasing incidence for disease-related malnutrition is also expected to drive the global medical nutrition market.
Advances in biotechnology have culminated in the revolution of the medical nutrition market as manufacturers are increasingly focusing on the research & development of better and customized medical nutrition products in the market. Hence, the development of disease-specific specialized medical nutrition products, especially in the developed countries is on the rise.
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Parenteral medical nutrition therapy serves as an important therapeutic modality for the treatment and mitigation of chronic disease conditions. The prime reason for the use of parenteral medical nutrition is to cover adequate nutrition intake when oral or enteral feeding is not sufficient to meet the required nutritional needs of patients.
In many cases, due to the higher prices of parental medical nutrition, consumers may opt for oral and enteral feeding for nutrition intake, which is expected to hinder the segmental growth of the parenteral medical nutrition market.
The medical nutrition market is segmented on the basis of product type, indications, flavor, end user, and distribution channel.
Medical Nutrition refers to therapeutic compositions specially processed or formulated and intended for the dietary management of patients. This nutrition is strictly prescribed by medical professionals and is also consumed under medical supervision.
On the basis of indication, the medical nutrition market is segmented as general well-being, hepatic disorders, renal disorders, diabetes, dysphagia, oncology nutrition, neurology nutrition, IBD & GI tract disorders, respiratory disorders and others. All the indication segments are further sub segmented as enteral nutrition and parenteral nutrition. In terms of volume, enteral nutrition constitutes a much larger share in the medical nutrition market than parenteral nutrition.
Amongst all indication segments, oncology nutrition occupies considerable share in the medical nutrition market, followed by neurology nutrition. Due to the high prevalence of cerebrovascular disorders, dementia and strokes in neurological disorders, the medical nutrition is prominently consumed by the patients suffering from these diseases.
By End User
The growth in the medical nutrition market is boosted by the growing preference of patients for Home Parenteral & Enteral Nutrition (HPEN), and the reimbursements offered to the patients for medical nutrition. The demand for better quality therapy and healthcare facilities in developed countries is also likely to fuel the growth of the medical nutrition market.
Amongst the pediatric population, the consumption of medical nutrition is high amongst the infants aged less than one year. The average length of hospital stay for pediatric patients is relatively less than that for the adult and the geriatric population, which attributes for the higher market shares of adult and geriatric end user segments in the medical nutrition market.
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Analysis by Region:
On the basis of region, the market in North America is anticipated to dominate the global medical nutrition market in 2017. North America is expected to gain significant market share in revenue terms by 2027 end. Moreover, the US has been projected to exhibit a significant CAGR during the forecast period, in the medical nutrition market.